Fannie Mae and Freddie Mac posted a combined net profit of $6.72 billion for the third quarter while continuing to expand their credit-risk transfer programs. GSE earnings as a whole were down slightly from the $6.96 billion in the previous quarter, but that can be primarily attributed to Fannie’s 10.0 percent drop from the second quarter to $4.01 billion. Fannie’s new chief financial officer, Celeste Brown, said the decrease was due to lower credit-related income ... [Includes one data chart]
Fannie Mae and Freddie Mac transferred risk on about $367 billion of unpaid principal balance in the first half of the year as the GSEs target a larger share of single-family loans. The Federal Housing Finance Agency published a credit-risk transfer progress report last week highlighting activity through the second quarter of 2018. This report marks the first time the FHFA is reporting the percentage of the GSEs’ targeted single-family and multifamily acquisitions that are covered by credit-risk transfer ...
FHFA and CFPB Release New Loan-Level Dataset. The Federal Housing Finance Agency along with the Consumer Protection Finance Bureau on Nov. 8 released for public use a new loan-level dataset collected through the National Survey of Mortgage Originations (NSMO) that provides insights into borrowers’ experiences in getting a residential mortgage. FHFA Deputy Director Sandra Thompson said, “The goal of the survey is to obtain information ... [Includes four briefs]
Fannie Mae and Freddie Mac reported $6.72 billion in net income during the third quarter, down 3.5 percent from the previous quarter. The government-sponsored enterprises have also been actively whittling down their retained portfolios.
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